Chapter 13 – Financial Statement Analysis

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Capital Projects Fund

CITY JAIL CAPITAL PROJECTS FUND

CONTRACTS PAYABLE

reference

Account Titles

Debits

Credits

CASH

ACCOUNTS PAYABLE

RETAINED PERCENTAGE

5-C-1

type debit accounts in this column

type credit accounts in this column

BUDGETARY FUND BALANCE

DUE FROM STATE

ENCUMBRANCES

RESERVE FOR ENCUMBRANCES

GOVERNMENT

CAPITAL

OTHER FIN. USES

EXPENDITURES

TRANSFERS OUT

REVENUES

OTHER FIN. SOURCES

INTERGOVERNMENTAL

BOND PROCEEDS

BOND PREMIUM

Total Debits

Total Credits

&"Arial,Bold"&14City of Monroe - City Jail Construction Fund

Debt Service Funds

											CASH				FUND BALANCE ASSIGNED
reference		Account Titles		Debits	Credits		CASH				WITH FISCAL AGENT				FOR DEBT SERVICE
		CITY HALL DEBT SERVICE FUND				bb				bb	580,000	580,000	1			580,000	bb
5-C-2	1	Expenditures - Bond interest		180,000		2	574,000	574,000	2	2	574,000	574,000	3
		Expenditures - Bond principal		400,000		4	568,000	568,000	5	5	568,000
			Cash with fiscal agent		580,000
	2	cash		574,000
			other financing sources transfer in		574,000
							-				568,000					580,000
		cash with fiscal agent		574,000
			cash		574,000
	3	Expenditures - Bond interest		174,000			EXPENDITURES -				EXPENDITURES -				OTHER FIN. SOURCES
		Expenditures - Bond principal		400,000			BOND INTEREST				BOND PRINCIPAL				TRANSFERS IN
			Cash with fiscal agent		574,000	1	180,000			1	400,000					574,000	2
						3	174,000			3	400,000					568,000	5
	4	cash		568,000
			other financing sources transfer in		568,000
							354,000				800,000					1,142,000
	5	Cash with fiscal agent		568,000
			cash		568,000
									Total Debits			1,722,000
									Total Credits			1,722,000
											CASH
reference		Account Titles		Debits	Credits		CASH				WITH FISCAL AGENT				INVESTMENTS
		CITY JAIL DEBT SERVICE FUND				1	200,000	160,000	2	2	160,000	160,000	3	6	200,000
5-C-3	1	cash		200,000		2	160,000	360,000	5	5	360,000
			other financing sources transfer in		200,000	4	14,700	200,000	6
						5	360,000
	2	cash		160,000
			other financing sources transfer in		160,000
							14,700				360,000				200,000
		cash with fiscal agent		160,000
			cash		160,000
	3	Expenditures - Bond interest		160,000			EXPENDITURES -				EXPENDITURES -				OTHER FIN. SOURCES
			cash with fiscal agent		160,000		BOND INTEREST				BOND PRINCIPAL				TRANSFERS IN
						3	160,000									200,000	1
	4	cash		14,700												160,000	2
			other financing sources transfer in		14,700											14,700	4
																360,000	5
	5	cash		360,000
			other financing sources transfer in		360,000		160,000				-					734,700
		cash with fiscal agent		360,000					Total Debits			734,700
			cash		360,000				Total Credits			734,700
	6	Investments		200,000
			cash		200,000

&16City of MonroeDebt Service Funds &16

Closing Entries

CAPITAL PROJECTS FUND			CAPITAL PROJECTS
Account Title	Debits	Credits	FUND BALANCE
Revenues-intergovernmental	1,340,000			0	Preclosing
OFS-proceeds of bonds	4,000,000
OFS-premium on bonds	200,000				closing entry
Fund balance
Capital expenditures		5,305,300
OFU - transfer out		214,700		0	ending balance
CITY HALL DEBT SERVICE FUND			CITY HALL DSF
Account Title	Debits	Credits	FUND BALANCE
				580,000	Preclosing
OFU - transfer in	1,142,000
Fund balance	12,000		12,000		closing entry
Expenditures - bond interest		354,000
expenditures - bond principal		800,000		568,000	ending balance
CITY JAIL DEBT SERVICE FUND			CITY JAIL DSF
Account Title	Debits	Credits	FUND BALANCE
				0	Preclosing
OFS - transfers in	734,700
Fund balance		574,700		574,700	closing entry
Expenditures - bond interest		160,000
expenditures - bond principal				574,700	ending balance

&14City of Monroe &14CAPITAL PROJECT AND DEBT SERVICE FUND - Closing Entries

Stmt of revenues & expenditures

	Amounts shaded in blue came from Chapter 4 assignment
	General	Street and Highway	City Hall Debt Service	City Jail Debt Service	City Jail Construction	Total Governmental Funds
Revenues
Property Taxes	$ 6,657,500					$ 6,657,500
Sales Taxes	2,942,000					2,942,000
Interest & penalties	16,100	5,120				21,220
Licenses and Permits	800,000					800,000
Intergovernmental Revenues	332,000	1,065,000				1,397,000
Miscellaneous Revenues	350,000					350,000
Total Revenues	11,097,600	1,070,120	-	-	-	12,167,720
Expenditures
Current:
General Government	1,646,900					1,646,900
Public Safety	3,026,900					3,026,900
Highways and Streets	1,441,400	1,040,500				2,481,900
Sanitation	591,400					591,400
Health	724,100					724,100
Welfare	374,300					374,300
Culture and Recreation	917,300					917,300
Capital Outlay	492,800					492,800
Debt Service						-
Principal			800,000			800,000
Interest			354,000	160,000		514,000
Total Expenditures	9,215,100	1,040,500	1,154,000	160,000	-	11,569,600
Excess (Deficiency) of Revenues Over Expenditures	1,882,500	29,620	(1,154,000)	(160,000)	-	598,120
Other Financing Sources (Uses)						-
Proceeds of Bonds						-
Premium on Bonds Sold						-
Transfers In			1,142,000	734,700		1,876,700
Transfers Out	(1,662,000)					(1,662,000)
Total Other Financing Sources (Uses)	(1,662,000)	-	1,142,000	734,700	-	214,700
Net Change in Fund Balance	220,500	29,620	(12,000)	574,700	-	812,820
Fund Balance, January 1	737,250	180,000	580,000	-	-	1,497,250
Fund Balance, December 31	$ 957,750	$ 209,620	$ 568,000	$ 574,700	$ -	$ 2,310,070

&"Times New Roman,Regular"&14City of MonroeStatement of Revenues, Expenditures and Changes in Fund BalanceGovernmental-type FundsFor the year ended December 31, 2017

Balance Sheet

	Amounts shaded in blue came from Chapter 4 assignment
	General	Street and Highway	City Hall Debt Service	City Jail Debt Service	Total Governmental Funds
Assets
Cash	$ 545,900	$ 102,120		$ 14,700	$ 662,720
Cash with Fiscal Agent			568,000	360,000	928,000
Investments		59,000		200,000	259,000
Taxes Reveivable - (net)	262,000				262,000
Interest & Penalties Receivable - (net)	16,850			160,000	176,850
Due from State Government	384,000	175,000			559,000
Total Assets	$ 1,208,750	$ 336,120	$ 568,000	$ 734,700	$ 2,847,570
Liabilities, Deferred Inflows and Fund Balance
Liabilities
Accounts Payable	$ 200,300	$ 126,500			$ 326,800
Due to Other funds	40,200				40,200
Total Liabilities	240,500	126,500	-	-	367,000
Deferred Inflows
Property Taxes	10,500				10,500
Fund Balances
Restricted for Street & Highway Maintenance		209,620			209,620
Assigned for:					-
Debt Service			580,000		580,000
Other Purposes	58,000			734,700	792,700
Unassigned	899,750				899,750
Total Fund Equity	957,750	209,620	580,000	734,700	2,482,070
Total Liabilities, Deferred Inflows and Fund Balance	$ 1,208,750	$ 336,120	$ 580,000	$ 734,700	$ 2,859,570

&"Times New Roman,Regular"&14City of MonroeBalance SheetGovernmental-type FundsAs of December 31, 2017